Transcription of Operations Risk - Risk Assessment
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Operations Risk - Risk Assessment
11 OPERATIONAL RISKRISK ASSESSMENT22 OVERVIEW Inherent Risk Risk Management Composite or Net Residual Risk Trend33 INHERENT RISK Definition Sources Identification Quantification44 DefinitionOPERATIONAL RISK DEFINED The risk of direct or indirect loss due to inadequate or failed internal processes, people, and systems, or from external events. Basel, Sound Practices for the Management & Supervision of Operational Risk Translation: Everything that s not credit and market SourcesSOURCES OF RISK People Fraud Breach of authorized limits Human error Processes Execution failure Product failure Systems Systems disruption or failure Vendor/service provider failure External events Natural disaster Political events66 Risk SourcesUNDERSTANDING THE OPERATIONAL AREAP eople Organization chart and reporting lines What is department s position within organization?
4 Definition OPERATIONAL RISK DEFINED “The risk of direct or indirect loss due to inadequate or failed internal processes, people, and systems, or from external
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